4 ms·

Finance without KYC/AML is like air travel without TSA. Everyone remembers those times fondly, but have lost the imagination to believe they are possible again.

RC_ITR 5y ago
And even more forget why we put those systems into place to begin with. Just because the response is a bad one doesn't mean that the problem doesn't exist. FWIW, even if TSA is bad at stopping terrorists, I AM glad that all of these people punching flight attendants are, with certainty c. 1, not packing heat.
- spurgu 5y ago
  > FWIW, even if TSA is bad at stopping terrorists, I AM glad that all of these people punching flight attendants are Seriously, how often does this happen? I've flown a fair amount in my life (in Europe though) and I've never seen any commotion on a plane. I've read about some incidents, but I've read about a lot of fucked up stuff that I'm not concerned about in my life. It's along the lines with everything these days. Someone does something bad and someone else gets shocked and then everyone wants to stop something like that from happening ever again, through whatever means, without realizing the incredible inconvenience (and complexity) this causes over time when repeated ad infinitum.
  - RC_ITR 5y ago
    https://www.cnn.com/travel/article/unruly-passengers-faa/index.html https://www.cnn.com/travel/article/unruly-passengers-faa/ind... If only 1% of those people were armed, that would still be very very scary!
koolba 5y ago
> Finance without KYC/AML is like air travel without TSA. The real analogy here is that the ultra rich needn’t deal with the TSA because they fly private.
hujni 5y ago
Is the thought that things like Monero, ZCash, etc., will be eliminated, or that they don't provide the anonymity that people think? What about the CCs that choose to implement Mimblewimble?

4 ms·

Finance without KYC/AML is like air travel without TSA. Everyone remembers those times fondly, but have lost the imagination to believe they are possible again.

by Mengkudulangsat 5y ago

RC_ITR 5y ago
And even more forget why we put those systems into place to begin with. Just because the response is a bad one doesn't mean that the problem doesn't exist. FWIW, even if TSA is bad at stopping terrorists, I AM glad that all of these people punching flight attendants are, with certainty c. 1, not packing heat.
- spurgu 5y ago
  > FWIW, even if TSA is bad at stopping terrorists, I AM glad that all of these people punching flight attendants are Seriously, how often does this happen? I've flown a fair amount in my life (in Europe though) and I've never seen any commotion on a plane. I've read about some incidents, but I've read about a lot of fucked up stuff that I'm not concerned about in my life. It's along the lines with everything these days. Someone does something bad and someone else gets shocked and then everyone wants to stop something like that from happening ever again, through whatever means, without realizing the incredible inconvenience (and complexity) this causes over time when repeated ad infinitum.
  - RC_ITR 5y ago
    https://www.cnn.com/travel/article/unruly-passengers-faa/index.html https://www.cnn.com/travel/article/unruly-passengers-faa/ind... If only 1% of those people were armed, that would still be very very scary!
koolba 5y ago
> Finance without KYC/AML is like air travel without TSA. The real analogy here is that the ultra rich needn’t deal with the TSA because they fly private.
hujni 5y ago
Is the thought that things like Monero, ZCash, etc., will be eliminated, or that they don't provide the anonymity that people think? What about the CCs that choose to implement Mimblewimble?